Nickel Futures Rise Amid Firm Global Trend

Nickel futures were trading higher during noon trade in the domestic market on Monday as speculators widened their bets, driven by pickup in demand in the spot market amid firm global trend.

Analysts attributed rise in nickel futures to building-up of positions by participants due to pick up in demand from alloy- makers in the spot market and a firm global cues.

At the MCX, nickel futures for July 2016 contract is trading at Rs 703.70 per kg, up by 1.05 per cent, after opening at Rs 701.50, against a previous close of Rs 696.40. It touched the intra-day high of Rs 704.50.

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Suhani Verma

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